PPP Loan Data — Futures Holding Company Inc, Wake Forest, NC
Futures Holding Company Inc
Location: Wake Forest, NCTweet This • Search All PPP Data
Futures Holding Company Inc is a corporation located at 6108 Riverside Dr. in Wake Forest, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wells Fargo Bank, National Association
Futures Holding Company Inc in Wake Forest, NC received a Paycheck Protection Loan of $25,000 through Wells Fargo Bank, National Association, which was approved in May, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in May, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Futures Holding Company Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Futures Holding Company Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Futures Holding Company Inc in Wake Forest, NC
6108 Riverside Dr.
Wake Forest, NC 27587
Other Miscellaneous Durable Goods Merchant Wholesalers
NAICS code 423990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Wake Forest
In the Wake Forest area, 4 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 3) and received an average PPP loan of $129,177 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Allan Edward Sturges
Wake Forest, NC
Meen Manufacturing LLC
Wake Forest, NC
Utility Service Agency Inc
Wake Forest, NC
Industry PPP Comparison Statistics
Nationwide, 26,568 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a total of $1.98B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 7 employees, 133% higher than Futures Holding Company Inc's reported 3 employees, and received an average PPP loan of $74,615, 198% higher than this company's loan of $25,000.
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